STAND. COM. REP. NO. 1501

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  H.B. No. 1624
                                        H.D. 2
                                        S.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred H.B.
No. 1624, H.D. 2, S.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO CAPTIVE INSURANCE,"

begs leave to report as follows:

     The purpose of this bill is to have licensing, registration,
and renewal fees for captive insurance companies established
through administrative rules rather than by statute.

     Your Committee finds that fees for captive insurance
companies are presently established by statute.  Your Committee
further finds that having the fees set through the administrative
rulemaking process will give the Insurance Commissioner
flexibility in setting fees at levels commensurate with the
administrative resources expended to oversee these companies.

     As affirmed by the record of votes of the members of your
Committee on Ways and Means that is attached to this report, your
Committee is in accord with the intent and purpose of H.B.
No. 1624, H.D. 2, S.D. 1, and recommends that it pass Third
Reading.


 
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                                   STAND. COM. REP. NO. 1501
                                   Page 2


                                 Respectfully submitted on behalf
                                 of the members of the Committee
                                 on Ways and Means,



                                 ________________________________
                                 CAROL FUKUNAGA, Co-Chair



                                 ________________________________
                                 ANDREW LEVIN, Co-Chair

 
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